We’ve recently made a name change to what was formerly known as the Resource Hub. It will now be known as the UpTogether Fund and will continue to serve as a critical equalizer, providing families direct access to dollars to fuel their initiatives, just as before. The difference, however, will be in its administration which has been made simpler for our family partners.
So why the name change? Truthfully, it’s pretty simple. We believe that UpTogether Fund is a more accurate reflection of its purpose and value. The name ‘Resource Hub’ implies that resources above and beyond cash dollars are available to families and, although that is certainly true through other features and functionalities available via UpTogether.org, it is not the case with the UpTogether Fund – only direct capital dollars are available. Thus, the reason for using ‘Funds’ instead of ‘Resources’. The reason for the inclusion of UpTogether in the name is also quite simple – FII trusts and invests directly in families so that we may all rise up together through community building, sharing resources and leveraging direct dollar investments.
No longer will there be a requirement to use a custom application to apply for a specific resource (i.e.,matched savings, scholarship, family time, etc.) depending on intended use. Instead, each family will be allocated an annual ‘bank’ of funds to draw against, with the ‘bank’ amount being determined by an FII generated Initiative Score, a score that holistically reflects their behavior over time. A common application for all funds will be instituted and will include a simple request to indicate intended use of funds, streamlining the process and eliminating administration complexities for all.
In the past twelve months, the UpTogether Fund has distributed 547 payments totaling approximately $700K to FII families, with the majority of draws coming in at less than $1,000 and the median amount hovering around $500. Given our strategic expansion plans to include new sites and add family partners, we know that demand for funds will grow exponentially.
Used for myriad purposes, we know that the vast majority of UpTogether Funds distributed over the last twelve months have been focused on Financial Health, Children & Family, General Health, and Education initiatives.
We will continue to track and report on use of funds regardless of the name change and administrative simplifications. And we will continue to learn from our families so that we may enhance our selection of third party offerings and incorporate new features and functionality into the UpTogether.org platform.
Our challenge will be to meet the anticipated and increasing demand for capital as families access the UpTogether Fund to support their initiatives. We are grateful to the individuals, corporations, and foundations who support FII today and ask you to consider joining them in our collective quest to accelerate economic and social mobility for those living in poverty.